EVALUATION OF BUSINESS STRATEGIES ON COMMERCIAL ROAD TRANSPORTATION COMPANIES IN ENUGU STATE
ABSTRACT
This study is a research in the evaluation of business strategies on commercial road transportation companies in Enugu State.
The purpose of the study is to unravel the reasons behind the neglect and the ineffective and inefficient way business strategies have been applied in the road transport sub-sector in Enugu State.
1. To seek the evaluation of strategies that are being adopted by operators in the sub-sector and at the end proffer outstanding ways to better the situation. While carrying out the research, the data collection method adopted was the questionnaires, the statistical tool used was chi-square. A total of sixty questionnaire were distributed out of which fifty-one was returned. The findings from the hypothesis is and research shows that, the pricing strategies adopted by transporters had a large extent increase in customer patronage especially the going market rte strategy.
The promotional mix elements used by the transportation organization had an impact on customer patronage. Table 4.7 especially advertising and publicity.
Factors that affect the commercial road transporters are competition, high operating charge, high cost of maintenance and government policy.
Table 4.1
Finally, recommendations was made in the research work at the end some of them include:
1. The operators in the sub-sector should apply more of sales promotion elements such as discounts for those who travel two or more times with them in a week plus contest and sweep stakes.
2. The personnal of the firms should be trained and re-trained properly to give the industry a fact life. This could be done through work shops, seminars and symposia. The umbrella Union could handle it to reduce cost.
3. The government should reduce further the high traffic charged on vehicles and the service parts importation. Also the issue of roads rehabilitation should be given consideration.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The purpose of every business organization is to make and provide valuable products or services available to its consumers and in turn make profit. To achieve this, the business must be properly aligned to identify the needs of its customers and strategically, produced and deliver quality products and service on feel time to its customers.
Strategic business plays a pivotal rule in order to achieve the above objectives. Customer’s needs satisfaction come to play. If the firm does a good job of understanding customers’ needs develop products and services that provide superior value and prices, distributes, and promotes them effectively the products or services will sell easily that is strategic business. To put it more succinctly, it is a firm’s game. Plan to beat competition and have a good share of the business.
In the commercial road transportation sub-sector therefore, the need to adopt business strategies cannot be over-emphasized. This is because of the dynamism associated with customer preferences over time. Transportation, which is generally regarded as a service is very important in every economy. This is because, it aids in the business of goods and services.
This include all activities directly concerned with the movement of persons and goods from one point to another. The efficient and easy mobility of goods and persons would be a large extent depend on the quality available means of transportation. The colossal effect of poor transportation system in any economy is better imagined, because not only would the people be faced with services mobility problem but also their business and the nations economy would face serious set back as there would be a decline in the contributions effected persons would have made in the economic and social growth of the nation in Enugu State, he Commercial road transporation business comprise of Enugu transport company (ENTRACO) which operates in Intra City – Enugu to Umuahia to Aba in that other order and Intra-city, Enugu- Lagos, Aba to Abuja in that order also. ENTRACO is owned by Enugu State Government. There is also private transportation company which also operate on Intra and Inter City bases. Examples of private transportation companies in Enugu State include CHISCO Transport Company. Young Shall Grow Company and IFEX Company. These two forms of commercial road transport business ownership mentioned above operate “paripassu”.
